Which term best describes the insurance coverage that protects against all risks?

The term that best describes insurance coverage that protects against all risks is indeed the all-risks clause. This type of coverage is designed to provide the broadest form of protection, meaning it covers a wide range of potential risks and losses unless specifically excluded in the policy.

An all-risks clause typically includes various situations and scenarios unless there is a clear statement in the contract that excludes certain risks. This ensures that policyholders have extensive protection, which is especially valuable in fields like shipping and logistics, where many unforeseen circumstances can arise.

In contrast, other choices focus on more narrow definitions of coverage. Specific risks coverage is limited to named or predefined risks, while basic coverage generally provides minimal protection, covering only the most common types of risks and perils. Exclusionary coverage specifically refers to policies that limit coverage by excluding certain risks entirely, thus providing less overall protection than an all-risks clause.